Eagle Plains Commences Drilling on Kalum Gold Project; WestCentral British Columbia
Cranbrook, B.C., 05 August, 2005: Eagle Plains Resources Ltd. (EPL:TSXV) has mobilized crews to commence diamond drilling on the Kalum project located 30km northwest of Terrace, near the central coast of British Columbia. The claims cover an area of approximately 10 km x 12 km, and are 100% owned by Eagle Plains. A 1000m, 4hole program is planned for the property, with targets based on encouraging results obtained during 2003 and 2004 fieldwork (see Nov. 8, 2004 and Dec. 9, 2004 news releases). Highlights from 2004 drilling include hole KRC04001, drilled at the Rico showing (discovered by Eagle Plains personnel in late 2003), which returned 35g/t Au over 2.5m from 101.8m to 104.3m; including a 0.5m interval that assayed 107g/t Au. The current program will target highgrade mineralization discovered in the “Hat” showing area.
The claims cover over 30 highgrade goldsilver vein occurrences related to a Cretaceousaged intrusive stock that has surface dimensions of approximately 7 x 12 km. The project area is accessed by a network of logging roads and transected by a hydroelectric powerline. It is located 90 km by road from port facilities in Kitimat, or 100km by rail from Terrace to port facilities in Prince Rupert. Extensive logging activity has taken place throughout the project area, with additional roadbuilding and logging activity planned over the next three years. A detailed plan map of geology, infrastructure and showing areas in PDF format may be viewed on the Eagle Plains website (www.eagleplains.ca) under the “British Columbia Properties” heading.
Drilling continues on the nearby LCR project, owned 100% by Eagle Plains and funded by option partner Northern Continental Resources NCR:TSXV (see July 12, 2005 news release). To date, 1,590 m (5,200’) of drilling has been completed in 13 holes. Results will be released when analytical results have been received, compiled and interpreted.
Results from drilling earlier this season at the Rusty Springs property have now been compiled. Zinc mineralization was reported in two holes which intersected the target horizon, but economic concentrations were not encountered.
Eagle Plains Resources continues to conduct research, acquisition and exploration projects in western Canada. The Company controls over 30 gold and basemetal projects, many with third parties including NovaGold Inc. (NG:AMEX,TSX), Amarc Resources Ltd. (a Hunter Dickinson Group Company )(AHR:TSXV), Northern Continental Resources Inc. (NCR:TSXV), and Golden Cariboo Resources Inc. (GCC:TSXV). These agreements expose Eagle Plains to over $11.5 million in exploration expenditures over the next five years. In recent years, Eagle Plains has completed option agreements with Billiton Metals, Rio Algom Exploration, Kennecott Exploration, Viceroy Resource Corp. and numerous other junior exploration companies, resulting in over 27,000m (90,000 ft) of drilling and over $8,000,000 in exploration spending on its projects since 1998.
On behalf of the Board of Directors
“Tim J. Termuende”
President and CEO
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.